New Zealand Gazette – 2004 – No. 164

Page 4048

✨ Financial Statements



4048 NEW ZEALAND GAZETTE, No. 164 15 DECEMBER 2004

WAIPA NETWORKS LIMITED - LINES BUSINESS

2004 2003
$ $

3 TAXATION

Net surplus before taxation 1,052,186 870,651
Prima facie taxation at 33% 347,221 287,315

Plus Tax effect of permanent differences 407,082 392,655
Less Tax effect of timing differences not Recognised (514,470) (447,844)

Total Taxation Expense 239,833 232,126

The Taxation charge comprises:

  • current taxation 239,833 232,126

  • deferred taxation - -

                      239,833 232,126

A deferred tax liability of $4,076,136 (2003 $3,714,025), has not been recognised. This liability primarily relates to asset revaluations of the reticulation assets which would only crystallise on disposal.

Imputation credit memorandum account:
Balance at the beginning of the year 1,325,888 1,217,240
Dividends Allocated - -
Taxation paid 339,175 108,648

Balance at end of year 1,665,063 1,325,888

4 SHARE CAPITAL

Balance at end of year

At 31 March 2004 the company has 6,800,000 fully paid issued shares. All shares carry equal voting rights and share in any surplus on winding up of the company equally. None of the shares carry fixed dividend rights.



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2004, No 164


Gazette.govt.nz — PDF NZ Gazette 2004, No 164




✨ LLM interpretation of page content

🏭 Financial Statements of Waipa Networks Limited (continued from previous page)

🏭 Trade, Customs & Industry
2 December 2004
Financial statements, Waipa Networks Limited, Taxation, Share Capital, Imputation Credit